Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
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Nothing lasts forever and you will ultimately be faced with the task of selling your company. And when that day arrives, you need to know how to sell your stone cutters business in a way that achieves positive outcomes for you and the business.
Tips for Working with A Business Broker
Business brokers are professional business sellers. Brokers routinely work with stone cutters business owners to achieve desired outcomes and deliver a successful sale as quickly as possible. However, your broker will still expect you to materially participate in the sale of your business. To maximize your broker's potential, conduct periodic consultations throughout the process and deliver requested information as quickly as possible.
The pre-sale checklist for a stone cutters business is long and is full of critical tasks that will likely determine the success (or failure) of your sale. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Armed with a realistic timeframe and asking price, you can begin to consult with your broker about the best way to approach likely buyers.
Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized stone cutters business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
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